China approves 41 bln USD in RQFII quotas

BEIJING, July 18 (Xinhua) -- Eighty-four overseas institutions have been approved as RMB Qualified Foreign Institutional Investors (RQFII) between 2011 and June of this year, China's securities regulator said Friday.

China have granted a combined 250 billion yuan (40.61 billion dollars) in RQFII quotas to these institutions, the regulator revealed.

The 84 financial institutions are from Hong Kong Special Administrative Region, London, Singapore, France, the Republic of Korea (ROK) and Germany, Zhang Xiaojun, a spokesman of the China Securities Regulatory Commission, said at a regular press conference.

Financial institutions from the ROK and Germany are allowed to conduct RQFII business in accordance with relevant laws and regulations starting Friday, said Zhang.

China granted 80 billion yuan RMB each in investment quotas to the ROK and Germany earlier this month under the RQFII program. Launched in 2011, the RQFII is aimed at widening investment channels for overseas RMB-denominated funds on the Chinese mainland's capital market.

EIJING, July 12 (Xinhua) -- The China-Europe settlement of Chinese currency renminbi, or the yuan, saw fast growth in May, according to a report unveiled Saturday by the Bank of China.

The yuan settlement amount between China's mainland and four European countries -- Germany, Britain, Luxembourg and France -- doubled from a year earlier, with their total taking up a share of 8 percent in China's overall cross-border yuan settlement, the report showed. Full story